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Direct MessagesDate/Time: Fri, 19 Apr 2024 18:31:34 +0000
[User Discussion] - Your experiences with Interactive Brokers
View Count: 10104
| [2021-02-17 21:32:40] |
| User379468 - Posts: 508 |
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Can any SC USERS using IB through SC comment if this setup is still working reliably and well for them trading futures without major issues?
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| [2021-02-17 21:56:08] |
| user_xyz - Posts: 369 |
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I use Sierra Chart across two brokers/configurations. One with IB and the other with AMP/ TT and trade daily. You can search the forum for one outstanding issue that I've uncovered but it only occurs when IB resets their servers at 12am EST. I've been with IB for a long, long time and definitely had issues along the way but NOTHING like this AMP/TT total disaster, if this is what you are referring to... To expand a bit more. IB's TWS trading software is a resource intensive, great looking, feature rich, most of the time very slow program that I and most I know have a love and often hate relationship with. To avoid running TWS in the background to connect SC, follow the docs and use the IB Gateway API a small app that runs and allows SC to connect to your IB account(s). I also trade options and I run TWS for that only when I need to. Date Time Of Last Edit: 2021-02-17 22:08:49
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| [2021-02-17 22:29:59] |
| User379468 - Posts: 508 |
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Thank you. I've also used many trade services including Transact, CQG, TT, Rithmic, SC/TT, etc with many years through Amp as well, and the current situation is highly concerning to put it nicely. I think I am glad to have been lucky to only have been trading at IB at the moment, even if not impressed with execution in TWS vs SC, will bring execution back to SC, just also worried about all of SC's disastrous warnings about IB. Did your TWS trading/order routing connection drop issue not showing disconnected in SC get resolved? |
| [2021-02-17 23:40:41] |
| user_xyz - Posts: 369 |
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Did your TWS trading/order routing connection drop issue not showing disconnected in SC get resolved?
Not yet... it's been a busy week for all and didn't want to ping them again on it. I'll circle back around end of week or next and follow up. It's only an issue during that time frame so unless you're a night owl trading asia session it doesn't affect anything. |
| [2021-02-18 00:52:04] |
| User19165 - Posts: 346 |
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Also a long time IB user out of my necessity for global market access. I've never really had a major technical issue with trading through SC into my IB account. I find the IB TWS software a confusing pile of crap. Many non-standard usability issues. I have had several serious problems with their customer "support".
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| [2021-02-18 01:03:45] |
| User509015 - Posts: 3 |
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I am looking for a new broker. I have been using AMP/TT lately but AMP is no longer allowing Transferwise funding/withdrawal capabilities AND they are rude. I travel and need to have easy access to, and be able to move my account balances. I trade futures through Sierra Chart's Market Profile (which is amazing, btw) . And I am Canadian. I am looking at IB because it has a Canadian Branch and I can link my banks. Like others, the SC page on IB scares me. I am technically proficient but I wonder how the actual trading experience is. I am willing to get SC data if that will makes things work. Any more thoughts on trading futures through IB?
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| [2021-02-18 01:41:04] |
| User19165 - Posts: 346 |
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I should add to my post in #29, I am using the SC Data (barcharts feed due to global market requirements). You can't be that worried about rude support if you are here with Sierra! lol |
| [2021-02-18 02:17:38] |
| User753624 - Posts: 23 |
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For what it's worth, I've been using Sierra Chart and IBKR together for over a year. At one point I was worried about all of the daily warnings when I start up Sierra Chart and so I spoke over the phone with a kind gentleman from Sierra Chart who told me about a few options for brokers that I would be able to use SC Order Routing with. After researching those other firms, I decided to stick with IBKR unless it wound up becoming a recurrently problematic combination (I wasn't having issues with it at the time, I was mainly just concerned about the warnings). I stuck with IBKR mainly because I preferred having a very well-capitalized, very widely used broker with full CME margin requirements (less chance of catastrophic failure and higher likelihood of good quality order routing and fast clearing). Something to consider with order execution is that the clearing firm can potentially be a bottleneck so even if the routing is extremely fast, which TT is supposed to be (I don't have personal experience with it), if the FCM isn't particularly fast then that'll still wind up resulting in slower executions. Now that's probably not going to be that significant of an issue for discretionary traders since our strategies typically aren't latency dependent (and by the time we've seen the information on the screen, made a decision, and pointed and clicked the algos have certainly already beat us to the punch). That being said, I figure an FCM with $5 billion in adjusted net capital requirements according to CFTC reports very likely has much better infrastructure in place than an FCM with $5 million. These are things based on my limited understanding of market microstructure so if I made any errors in my reasoning it'd be great to hear from SC Engineers or someone more well-versed in this stuff than me. Anyway, as a result of these considerations, IBKR was the best option that I could find for my needs, preferences, and conclusions. Plus with the all-in rates at a firm like AMP I would have likely wound up paying close to the same so it didn't make sense to me to switch from IBKR. As a side note, remember when CL traded into the negatives last year and IBKR covered the multi-million dollar losses of traders who were effected by IBKR's issues with data and trading? I know that's an extenuating circumstance (and brokers make people sign a form saying that we're always responsible for issues) but it's nice to know that the firm I'm trading through is well-capitalized enough to weather those sorts of storms. With that background information aside, I have been pleased with the integration between Sierra Chart and IBKR. I briefly tried using IBKR data sometime last year and very quickly went back to the Denali Feed. The actual setup was not difficult at all since, like most things, it's very clearly written out in SC's documentation (just read through it slowly and carefully and it should be an easy setup, took me less than 20 minutes to do and I'm not computer savvy). I keep my IBKR TWS DOM up on my secondary screen just in case there's some sort of software failure and I need to be able to quickly flatten my position. I don't know why Sierra Chart engineers dislike IBKR as much as they do, but I find their integration to be solid. Additionally, SC's only option for non-CME markets (as far as I know) is IBKR so I'm guessing they have to maintain very strong integration between the software so that they can provide access to equity markets. If I had to switch (which I'd only do if I had recurrent issues and/or SC stopped supporting IBKR), then I'd give a serious look to Optimus Futures (I've had a few conversations with Matt Zimberg and I was very impressed by him, if I had been a more experienced trader at the time I may have just opened an account with him instead of IBKR) or possibly Morad Askar's firm (I don't know what it's called, I think it is either Stage5, EdgeClear, or Convergent). Advantage Futures is another firm I'd consider. These are all somewhat smaller firms though so some of the considerations I listed above come into play. The other option would be to just go to another well-capitalized firm like TradeStation (though that would mean giving up SC) or to use a different front-end platform for IBKR. So there's lots of options, if you're on the fence about SC + IBKR and you can't find another option that suits your needs then I'll say that I've been happy with my experience with the combination. (Suuuuuuuper long-winded response!) TL;DR - IBKR + SC has been fine. |
| [2021-02-18 06:44:02] |
| ruiyt - Posts: 11 |
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I've been using SC with IBKR for about two years. It's been a solid combo. IBKR TWS is a very laggy and resource hog software, but guess what it doesn't fuck with my orders and fills. As long as my money is safe, I will just have to suck it up and endure the slow and laggy software. Make sure you do not use IBKR data feed. It's pretty bad. Use SC data instead. I don't see a reason to switch to another brokers unless IBKR is no longer usable. Date Time Of Last Edit: 2021-02-18 06:45:58
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| [2021-02-18 23:33:30] |
| User19165 - Posts: 346 |
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I'd just like to add something to the comments from #32 above. His point about IB having good infrastructure vs some other brokers may hold some merit. Recently the USA has restricted US traders from trading the Hong Kong Exchange (HKex). AMP was providing access to HKex. But when this regulation comes out, what does AMP do? They restrict access to every single customer regardless if you are from the USA or not. Whereas, IB only restricts the USA based customer. And to touch on post #33 above. The IB TWS software is heavy and slow, but that doesn't mean your orders get filled slow. I enter through the SC DOM and will get fills to HKex before it even appears in the software, it feels like. |
| [2021-02-19 06:10:26] |
| User379468 - Posts: 508 |
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I just experienced IB order routing go down direct in TWS for 7.5 minutes from 12:30am EST to 12:37:47am EST. I was not able to get any confirmations on live limit or market orders. Suddenly it came back and I was double filled for all previous orders at once. Also their site actually says trading is NOT available during their server reset times, 11:45-12:45am EST. https://www.interactivebrokers.co.uk/en/index.php?f=39818 Does anyone understand this? How can you block trading when the exchange is open? Wouldn't it make sense to reset the server during the 1 hour the exchange is closed? |
| [2021-02-19 23:21:56] |
| User19165 - Posts: 346 |
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Regarding post #35, when is the exchange closed though. IB offers unparalleled global market access, they have to run the batch processing daily at some point...Maybe if you are trading at that time of day you would consider requesting to change you to a different server so they will do the daily reset at a different time of day. They will do this, but you need to request it.
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| [2021-03-20 14:44:12] |
| Rui S - Posts: 175 |
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Thank you to all users that devoted their time to express their experiences with SC + IB integration here. I am in the process of setting up SC with IB too, because I share most of the same reasons exposed above. I have one question though: Do you have IB's TWS Standalone software? If so, does it work properly for you? Thanks. |
| [2021-03-21 02:22:21] |
| User19165 - Posts: 346 |
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Hi there, Yes I have the TWS standalone, but I only use it so SC can connect to the IB gateway. Every now and then I look at my fills and check the working orders. I also like to be sure there are no working orders dangling around at the end of the day. There never has been, but I check out of paranoia. So I can't say if it works properly for me. I don't really use any of its features. |
| [2021-03-21 03:55:48] |
| user_xyz - Posts: 369 |
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User379468 Does anyone understand this? How can you block trading when the exchange is open? Wouldn't it make sense to reset the server during the 1 hour the exchange is closed?
You can see my detailed thread about this issue here and other SC/IB users should definitely be aware of not only the daily reset but when IB order routing servers are down SC will not notify you. Interactive Brokers Connection & Order Routing Problems |
| [2021-03-21 13:57:05] |
| Rui S - Posts: 175 |
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Hi there,
Yes I have the TWS standalone, but I only use it so SC can connect to the IB gateway. Every now and then I look at my fills and check the working orders. I also like to be sure there are no working orders dangling around at the end of the day. There never has been, but I check out of paranoia. So I can't say if it works properly for me. I don't really use any of its features. Thank you for your reply. I understand your precautions and I intend to do the same. With IB we never now... |
| [2021-03-21 14:00:42] |
| Rui S - Posts: 175 |
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You can see my detailed thread about this issue here and other SC/IB users should definitely be aware of not only the daily reset but when IB order routing servers are down SC will not notify you.
Interactive Brokers Connection & Order Routing Problems Thank you for posting the link for that thread. It was very useful to know that, because I have been experiencing problems with "hanging" orders as well. I took the chance and just posted my issues in that thread too. Date Time Of Last Edit: 2021-03-21 14:01:13
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| [2021-03-21 14:07:23] |
| Rui S - Posts: 175 |
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One more question to all: Anyone here have any information about Sierra Futures? https://sierrafutures.stage5trading.com/ I have found them yesterday and I have sent them an email, but it was returned as "undeliverable". Could this might be an alternative solution for some of us? |
| [2021-08-24 07:37:47] |
| User504778 - Posts: 22 |
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Sierra Chart Engineering [Direct Messages] - Posts: 97375 | Ending Date: 2022-04-10
We are planning on obtaining NASDAQ level 2 data which includes level 2 data for all US traded equities. And this is likely to actually be the case this time around because we are working on obtaining it directly from NASDAQ. Any progress on getting Level 2 data from NASDAQ please? |
| [2021-08-25 19:46:29] |
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This is probably still about 1.5 months away at the soonest.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2021-08-25 19:46:38
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| [2021-08-25 19:51:06] |
| User504778 - Posts: 22 |
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Sierra Chart Engineering [Direct Messages] - Posts: 97411 | Ending Date: 2022-04-10
This is probably still about 1.5 months away at the soonest. Really look forward to it. Please let me know if you need a beta tester. |
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